BuildGroup aims to give its portfolio companies time to grow into ‘juggernauts’

Technology companies are already extending the time it takes to go public. But Lanham Napier, former chief executive of cloud-hosting company Rackspace, believes companies could be better off by remaining private even longer, say 15 or 20 years.

That’s why Mr. Napier says he co-founded BuildGroup, an investment entity that won’t pressure portfolio companies into an IPO or other exits because of its own investment-horizon constraints.

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